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20121027
20121104
Search Results 0 to 22 of about 23 (some duplicates have been removed)
's response to a hurricane. he was in two weeks after hurricane katrina. are you confident that fema is prepared given the sheer size of this storm, almost a thousand miles in dimer. >> it is a huge storm and the impact will on the storm is so big, it is impacti sever states from dall the way up to maine at the same time. but i am rae very comfortable. we have a great administrator running the organization. he gets it, he's from florida, a good emergency manager. doesn't run around with his hair on fire. so i'm confident they will do a good job. >> on a conference call today n fact, your successor, mr. fugate said the disaster fund at fema has a billion dollars in t more or less. is that enough for this kind of response that will be necessary? >> probably at the end of the day the expenses will be more than that. but yes, it's enough for now. what the president has de, he psident has done a prelandfa declaration of all of the states up the east coast. so that allows the administrator to move supplies in now, move people in now, rescue teams in, and to get ready, work with those emerg
costs will surpass those from hurricanes irene and katrina. although there are countless businesses hurt, others could see a boost. erika miller reports. >> reporter: when you consider the massive amounts of flooding, downed trees, and damage to transportation networks, it could take days-- if not weeks, to tally up the financial costs from the storm. but already there are predictions sandy will be the most expensive clean-up in u.s. history. the most serious damage appears to be caused by flooding along the east coast. according to economic tracking firm i.h.s. global insight, property damage will likely surpass $20 billion. add to that as much as $30 billion in lost business, and the total financial toll could end up being close to $50 billion. hotels, stores, airlines, and restaurants have lost business they wot get back. insurance companies will have to make big payouts, which will likely mean higher insurance premiums for customers down the road. here in new york city, commerce has been crippled. and power is not expected to be restored in many areas until next week. i.h.s. global p
in the wake of a major disaster. so it's probably no surprise that back in 2005, hurricanes katrina and rita drained the fund and plunged the program $18 billion into debt. it's debt congress planned to forgive, but hasn't yet. that leaves the program on poor financial footing with only about $4 billion worth of funds available for claims related to sandy. >> from what i've seen, this could be a $5 billion to $10 billion flooding event, so more than likely, the program will have to go to congress to get additional borrowing authority. >> reporter: former program administrator david maurstad says the program will probably ve to turno coress for help paying claims. >> it's still an obligation that our government said we're going to have this program-- "you buy a policy, we're going to take care of it." and i have every confidence to believe that that will happen. there will be some mechanics that will be involved, possibly, depending on how large of an event this turns out to be. >> reporter: what could be a bigger problem are the number of people affected who don't have flood insurance. gener
with katrina. we learned with irene. we started with much larger cash supplies than we normally would have, and we've been able to manage that cash supply at a much higher level than we have right now than we've ever had before. >> tom: have you been able to replenish the cash supplies in those a.t.m. machines in a timely manner? >> we have been able to replenish. obviously, there will be an a.t.m. here or there that has a problem, that runs out of cash. there are lines at many of these a.t.m.s in the difficult areas, but even as the longest time, it's within the same day it's replenished. we do have story where's we move cash from one branch to the other to help the branches keep cash. we've beefed up the security force toking in throughout the tristate area. >> tom: frank, let me pull back a little bit from the day-to-day operations and i know you're focused on that. you have waived some bank fees for those affected customers in the region. is that going to be much of an impact when you talk about the fourth quarter business? >> i don't see this impact our fourth quarter business by wavi
Search Results 0 to 22 of about 23 (some duplicates have been removed)